Shares of Symbotic (SYM -4.70%) charged sharply higher Tuesday, soaring as much as 14.6%. As of 11:12 a.m. ET, the stock was still up 6.8%.

The catalyst that sent the warehouse automation specialist higher was its strong financial report, which held a few surprises.

Investors let out a collective cheer

For its fiscal second quarter (ended March 30), Symbotic generated revenue of $424 million, jumping 59% year over year and 15% quarter over quarter. This surged past the high end of management's guidance and analysts' consensus estimates, which called for $420 million and $412.9 million, respectively.

Investors also celebrated Symbotic's progress toward profitability. The company generated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $22 million, compared to a loss of $55 million in the prior-year quarter. This resulted in adjusted earnings per share (EPS) of $0.22, easily outpacing analysts' consensus estimates, which were calling for a loss of $0.03.

The company generated operating cash flow of $21 million, which illustrates that Symbotic is also on the path to GAAP profitability.

Management noted two significant operational developments during the quarter. GreenBox -- the company's joint venture with SoftBank -- announced its first automated warehouse-as-a-service customer and will begin recognizing revenue from the partnership in the third quarter. Additionally, the company developed a new artificial intelligence (AI) chip to power its warehouse robotics systems, which will fuel future gains.

Is Symbotic stock a buy?

Management expects its impressive growth to continue, calling for fiscal third-quarter revenue of $460 million at the midpoint of its guidance, which would present year-over-year growth of 47%.

Symbotic's AI-powered supply chain automation solutions help get the most out of every inch of available warehouse space while increasing efficiency and reducing expenses, driving demand for its systems. And at just 2 times sales, the stock is attractively priced.

That's why Symbotic stock is a buy.